In November 2023, we published the second revision of the Risk-Based Supervision Guidelines. The revision extends the scope of the Guidelines to AML/CFT supervisors of CASPs. The amendments include guidance that competent authorities should consider when assessing ML/TF risks associated with CASPs.

CASPs can present high ML/TF risks. They also operate across borders. For this reason, a common supervisory approach to tackling ML/TF risks in that sector is crucial. The amended Guidelines highlight the importance of a consistent approach in setting supervisory expectations, where multiple competent authorities are responsible for the supervision of the same institutions. The Guidelines also emphasise the importance of training so that staff from competent authorities have the technical skills and expertise necessary to carry out their tasks.